ACORD enhances international reinsurance requirements with new ePlacing information

The Affiliation for Cooperative Operations Analysis and Improvement (ACORD) has introduced the discharge of its up to date World Reinsurance and Giant Business (GRLC) ePlacing Implementation Information, model 1.3.

In accordance with a information launch, the replace extends the ePlacing Normal to facultative reinsurance, and now the usual helps the digital placement of reinsurance contracts.

The most recent iteration of the information, v1.3, has been described as being aligned with the GRLC Accounting (EBOT) and Claims (ECOT) Requirements, which covers each treaty and facultative reinsurance.

ACORD famous in an announcement that this harmonization is the results of years of concerted efforts by subject material consultants inside the GRLC and Ruschlikon communities, aimed toward adapting ePlacing Requirements to satisfy the evolving wants of the worldwide reinsurance ecosystem.

Trying forward, ACORD plans to additional broaden the scope of the GRLC ePlacing Implementation Information all through 2024. This can embrace the institution of ordinary JSON/API messages amongst different technological enhancements, aimed toward bolstering the effectivity and responsiveness of reinsurance practices worldwide.

The ACORD GRLC ePlacing Implementation Information model 1.3 is out there for obtain, providing a complete useful resource for trade professionals in search of to navigate the up to date requirements. For extra info on the ePlacing Requirements and different ACORD initiatives, go to www.acord.org/grlc.

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